Evangelical Economics

Three and a half years ago, Gordon Bigelow published a prescient article in Harper’s Magazine about the limitations of extreme free market ideology called “Let there be markets: The evangelical roots of economics.” In it he points to the differences between Adam Smith’s understanding of moral behavior and the common wisdom about the market in our own times. He shows the crucial contribution that British evangelical authors made to this free market ideology in the early decades of the nineteenth century, and he points to the clear failure of their thought and policies during the Irish famine. These links might not be new for historians specializing in this subject matter; however, they provide food for thought for the rest of us. Besides reminding us to question the social, cultural, and political assumptions of economic theory, Bigelow’s piece offers a good example of how history can engage the public on important issues in forums outside the narrow confines of the academy.

[Hat tip for this reference: Cooper, who blogs about Darfur.]